8-K 1 dfs8k3rv.txt DFS 1999-3 8K SEPTEMBER 2004 October 20, 2004 Securities and Exchange Commission 450 Fifth Street, N.W. Judiciary Plaza Washington, D.C. 20549 Re: Form 8-K Distribution Financial Services RV Trust 1999-3 Registration no. 333-56303-03 On behalf of Distribution Financial Services RV Trust 1999-3 ("Registrant"), a trust which was originated by ETCF Asset Funding Corporation, a Nevada Corporation, I am transmitting herewith for filing, pursuant to the requirements of the Securities and Exchange Commission's Electronic Data Gathering, Analysis and Retrieval System, Form 8-K. Please send either confirmation or suspense notification to e-mail address: Darius.ilgunas@etrade.com at your earliest convenience. Sincerely, /s/ Matt Pechulis SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Commission File Number: 333-56303-03 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934. October 15, 2004 (Date of earliest event reporting) DISTRIBUTION FINANCIAL SERVICES RV TRUST 1999-3 (Exact name of registrant) State of Organization - New York I.R.S. Employer Identification Number: 91-1904587 Principal Executive Offices c/o Wells Fargo Bank, N.A. Sixth and Marquette - N9311-161MAC Minneapolis, Minnesota 55479 Telephone Number: 612-316-1816 Item 8.01. Other Events. A copy of the Monthly Payment Date Statement to Noteholders, as required by the Transfer and Servicing Agreement, is being filed as Exhibit 1 to this current report on Form 8-K. Item 9.01.(c). Exhibits.

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the Undersigned hereunto duly authorized. DISTRIBUTION FINANCIAL SERVICES RV TRUST 1999-3 By: Wells Fargo Bank, N.A. Not in its individual capacity but solely as Owner Trustee By: /s/ Edna Barber Title: Assistant Vice President Date: October 20, 2004 EX-1 DISTRIBUTION FINANCIAL SERVICES RV TRUST 1999-3 ~~Accounting Date: 12-Oct-04 Determination Date: 14-Oct-04 Monthly Payment Date: 15-Oct-04 Collection Period Ending: 30-Sep-04~~

I. COLLECTION ACCOUNT SUMMARY Total Available Funds ---------------------- Principal and Interest Payments Received (including Prepayments) 3,003,220.08 Net Liquidation Proceeds (including Rebates/Insurance Amounts) 80,037.99 Current Monthly Interest Shortfall/Excess -34,110.70 Recoup of Collection Expenses -3,214.10 Amount of Withdrawal, if any, from Reserve Account 0.00 Purchase Amounts for Repurchased Receivables 0.00 TOTAL AVAILABLE FUNDS 3,045,933.27

II. SIMPLE INTEREST EXCESS OR SHORTFALLS Amount of Interest Payments Due During the Collection Period for Receivables 582,025.42 Amount of Interest Payments Received During the Collection Period for Receivables 616,136.12 Amount of Current Month Simple Interest Excess/Shortfall -34,110.70

III.CALCULATION OF RESERVE ACCOUNT DEPOSIT/WITHDRAWALS Specified Reserve Account Balance (2% of the preceding Collection Period Pool Balance, not less than .75% of the Initial Pool Balance and not more than the outstanding principal balance of the Notes) 2,808,982.68 Beginning Reserve Account Balance 2,757,169.07 Deposits to Reserve Account (only if Reserve Account is less than the Specified Reserve Account Balance) 77,985.57 Withdrawals from Reserve Account (to the extent that there are shortfalls on payments of Interest or Principal) -26,171.96 Reserve Account Investment Earnings 3,024.34 Withdrawals from Reserve Account due to Servicer (to the extent that the Specified Reserve Account Balance and over-collateralization amounts have been met) -3,024.34 Amount in Reserve Account as of Determination Date (excluding amount to be paid on next Payment Date) 2,757,169.07 Total Ending Reserve Balance 2,808,982.68

IV. COLLECTIONS ON RECEIVABLES a) Interest and Principal Payments Received ------------------------------------------ Interest Payments Received 616,136.12 Scheduled Principal Payments Received 562,710.78 Principal Prepayments Received 1,824,373.18 Total Interest and Principal Payments Received 3,003,220.08 b) Liquidation Proceeds -------------------- Gross Recovery Proceeds of Liquidated Receivables (including Rebates/Insurance) 89,057.39 minus Reasonable Expenses 9,019.40 Net Liquidation Proceeds 80,037.99 Amount Allocable to Interest 0.00 Amount Allocable to Principal 80,037.99 c) Purchase Amount - Loans Repurchased from Trust ---------------------------------------------- Amount Allocable to Interest 0.00 Amount Allocable to Principal 0.00 TOTAL COLLECTED FUNDS 3,083,258.07

V. CALCULATION OF SERVICING AND TRUSTEE FEES Pool Balance of Receivables as of the First Day of Collection Period 81,548,125.73 multiplied by Servicer Fee Rate 0.50% divided by Months per Year 12 SERVICING FEE AMOUNT 33,978.39 TRUSTEE FEE AMOUNT (CONSTANT MONTHLY FIGURE) 708.33

VI. POOL BALANCE AND PORTFOLIO PERFORMANCE a) Pool Balance ------------- Initial Pool Balance 374,531,023.45 Pool Balance as of Preceding Accounting Date 81,548,125.73 Pool Balance as of the Current Accounting Date 79,059,994.02 Age of Pool in Months 63 a.2) Aggregate Note Balance ----------------------- Aggregate Note Balance as of Preceding Accounting Date 80,732,644.47 Aggregate Note Balance as of Current Accounting Date 78,269,394.08 b) Default and Delinquency Performance (including Repossessions and Bankruptcies) ------------------------------------------------------------------------------

VII. DISTRIBUTIONS OF THE TOTAL DISTRIBUTABLE AMOUNT Total Pool Factor 0.21109064 Note Pool Factor 0.20897975 a) Monthly Servicing Fee and any unpaid servicing fee from prior Monthly Payment Dates 33,978.39 Servicer Reimbursements for Mistaken Deposits or Posting of Checks Returned for Insufficient Funds (not Otherwise Reimbursed to Servicer) 0.00 b) Noteholders' Monthly Interest Distributable Amount --------------------------------------------------- Class A-1 0.00 Class A-2 0.00 Class A-3 0.00 Class A-4 0.00 Class A-5 50,878.26 Class A-6 314,456.13 Class B 55,943.93 Class C 49,440.60 Noteholders' Monthly Principal Distributable Amount ---------------------------------------------------

VIII. POOL STATISTICS Weighted Average Coupon (WAC) 8.92% Weighted Average Remaining Maturity (WAM) 118 TOTAL DISTRIBUTION AMOUNT (Serv Fee+Note Int+Note Prin+Reserve Deposit- Reserve Overfunded Withdrawal) 3,045,933.27 Plus: Trustee Fee 708.33 Less: Reserve Overfunded Withdrawal -26,171.96 TOTAL WIRE TO CHASE 3,020,469.64 Amount Due To Servicer (Excess Spread+Recoup of O/C-Reserve Deposit+Reserve Overfunded Withdrawal-Trustee Fee) 26,171.96

DISTRIBUTION FINANCIAL SERVICES RV TRUST 1999-3 8-K